Products and Brands Flashcards
What does the term ‘product’ encompass?
The term product encompasses tangible and intangible attributes related to physical goods, ideas, people, places, and experiences.
What does tangibility refer to?
Tangibility refers to whether something can be touched and stored.
What is the tangibility spectrum?
The tangibility spectrum describes the differences between a purely tangible good and a pure service.
What are the three levels of products to consider?
The three levels are the core benefit, the actual product, and the augmented product.
What are individual product decisions related to?
Individual product decisions relate to product attributes, packaging, and labeling.
What is the role of design in product marketing?
Design affects how a product looks, feels, and functions in terms of consumers’ requirements.
How did Method differentiate itself in the home cleaning category?
Method differentiated itself by designing colorful and fun packaging.
What are product lines?
Product lines are closely related products through technical, marketing, or user considerations.
What do line length and line depth refer to?
Line length refers to the number of products in a product line, while line depth refers to the number of variations within a product line.
What is line stretching?
Line stretching is extending the product line beyond its current range.
What is line filling?
Line filling means adding more items within the current range.
What is product mix?
Product mix is the total number of product lines an organization offers.
What do product mix width and consistency refer to?
Width refers to the number of product lines, while consistency refers to how closely related the product lines are.
What is the product life cycle?
The product life cycle is a model for conceptualizing the pathway of products from introduction to decline.
What is the new product development process?
The new product development process includes idea generation, idea screening, business plan and market analysis, development, test marketing, launch, and evaluation.
